/biz/ - Business & Finance

>>12345311

The pennant might fake you out. You might have a minor breakdown and get stop lossed only for this falling wedge to continue and have a bull break later on.

The argument for pennant is still there, I just thought falling wedge was more appropriate.

Formations constantly evolve into other formations. Its a non-ending cycle.

Since I'm not currently in ZIL and would want to buy the breakout of a continuation consolidation pattern, the top line really doesn't matter. The falling wedge or the pennant would have the same top line. However if the pennant breaks down you might lose interest only for it drop 5-10 more sats and have another rally.

One thing that I also like is the previous high is an important point in the history of price movement. The more points you can connect with your memelines 9 out of 10 the stronger your TA gets.